M&A Deal Summary

Bain Capital Private Equity and ADIA Acquire Merchants Fleet

On July 21, 2022, private equity firm Bain Capital Private Equity and sovereign wealth fund ADIA acquired business services company Merchants Fleet

Acquisition Highlights
  • This is Bain Capital Private Equity’s 13th and ADIA’s 1st transaction in the Business Services sector.
  • This is Bain Capital Private Equity’s 114th and ADIA’s 5th transaction in the United States.
  • This is Bain Capital Private Equity’s 2nd and ADIA’s 1st transaction in New Hampshire.

M&A Deal Summary

Date 2022-07-21
Target Merchants Fleet
Sector Business Services
Buyer(s) Bain Capital Private Equity
ADIA
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Broadhaven Capital Partners LLC
BNP Paribas Corporate and Investment Banking (Financial)
Wilmer Cutler Pickering Hale and Dorr (Legal)

Target

Merchants Fleet

Hooksett, New Hampshire, United States
Merchants Fleet is a fleet management company, enabling the movement of people, goods, and services freely and responsibly. From flexible funding, fleet acquisition, and fleet management to vehicle remarketing, fleet consulting, fleet electrification, and the power of cloud-based fleet management platform TotalView, Merchants serves as a single source for all fleet and mobility needs across more than 20 unique industries. Merchants Fleet was founded in 1962 and is based in Hooksett, New Hampshire.

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Buyer(S) 2

Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 217 of 238
Sector (Business Services) 13 of 16
Type (Buyout (LBO, MBO, MBI)) 48 of 50
State (New Hampshire) 2 of 2
Country (United States) 114 of 124
Year (2022) 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-23 Deltatre

Torino, Italy

Deltatrea is a provider of digital media services and a global leader in the sport business providing a comprehensive range of digital and broadcast solutions for the world’s largest sport events, federations, media partners and brands. The firm’s client portfolio includes UEFA, FIFA, the English Premier League, ATP World Tour, European Tour, European Athletics, NBC Universal, BBC, BT Sport, Star TV, Rede Globo, amongst others. Deltatre supports rights owners and holders in delivering multi-dimensional and multi-platform sporting coverage focusing on three different experiences: online, providing truly immersive digital user experiences; onstage, adding value for viewers on venue and on linear TV; backstage, enabling any other front-end service for those who work behind the scenes. The services provided by Deltatre range from sport media strategies, creative and design, websites, mobile apps, live streaming and OTT platforms, to the delivery of results, TV graphics and additional on venue services, as well as a comprehensive sport event management system. Deltatre was founded in 1986 and is based in Torino, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-09 Blue Nile

Seattle, Washington, United States

Blue Nile is an online retailer of diamonds and fine jewelry. Blue Nile offers a customer experience that includes education, guidance, selection, customization capability, convenience and value. Blue Nile, Inc. was formed in 1999 and is headquartered in Seattle, Washington.

Sell $360M
Buyer

ADIA


Category Sovereign Wealth Fund
Founded 1976
PE ASSETS 875.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 11 of 13
Sector (Business Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (New Hampshire) 1 of 1
Country (United States) 5 of 6
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-29 VTG

Hamburg, Germany

VTG is a full-range service, providing tank cars, intermodal wagons, standard freight wagons and sliding wall wagons. In addition to the hiring of wagons, the Group offers comprehensive multi-modal logistics services, mainly around rail transport, and global tank container transports. VTG was founded in 1951 and is based in Hamburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-14 Univar

Downers Grove, Illinois, United States

Univar Solutions is a global chemical and ingredient distributor and a provider of value-added services to customers across a wide range of industries. Univar was founded in 1924 and is based in Downers Grove, Illinois.

Buy $8.1B